Radiopharm (ASX: RAD) Launches ADR Program to Attract US Investors Amid Nasdaq Plans

September 19, 2024 01:41 PM AEST | By Aditi Sarkar

Radiopharm (ASX: RAD) Launches ADR Program to Attract US Investors Amid Nasdaq Plans

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Highlights

Radiopharm has launched a Level 1 ADR program to expand its US investor base.

The ADR program supports the company’s proposed Nasdaq listing and enhances market visibility.

Shareholders can now convert ordinary shares to ADSs, which will trade under the ticker symbol RADTY.

Radiopharm Theranostics Limited (ASX:RAD) has officially launched a Level 1 American Depositary Receipt (ADR) program, aimed at expanding its investor base in the United States. This initiative complements the company's primary listing on the Australian Securities Exchange (ASX) and serves as a pivotal step toward its proposed listing of American Depositary Shares (ADSs) on Nasdaq. By introducing this ADR program, Radiopharm is strategically positioning itself to attract both institutional and retail investors in the US market.

An American Depositary Share is a trading instrument designated in US dollars that permits US investors to buy shares in non-US companies without requiring cross-border or cross currency transactions.

Starting today, shareholders of Radiopharm can deposit their ordinary shares and receive ADSs, which will initially trade in the US over-the-counter market under the ticker symbol RADTY.

Reflecting on this new development, Riccardo Canevari, CEO and Managing Director of Radiopharm, commented, "We are excited about the establishment of an ADR program as it should attract new US investors. In addition, the ADR program will assist Radiopharm in completing its proposed Nasdaq listing that was announced on 26 July 2024".

The share price of RAD was AU$ 0.035 at the time of writing on 19 September 2024.

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